Corona Remedies, a pharmaceutical formulation company based in Ahmedabad, focuses on developing, manufacturing, and marketing products in various therapeutic areas, including women’s healthcare, cardiology, diabetes, pain management, and urology.
The company, backed by private equity firm ChrysCapital, has announced a price band of ₹1,008-1,062 per share for its upcoming Initial Public Offering (IPO), which will value the firm at approximately ₹6,500 crore. The IPO, totaling ₹655.37 crore, is entirely an Offer For Sale (OFS) from promoters and existing investors. It is set to open for public subscription from December 8 and will close on December 10. Allocation for anchor investors is scheduled for December 5.
The IPO size has been revised to ₹655.37 crore, down from the initially planned ₹800 crore as stated in the draft papers submitted in late April. Existing investors, including Sepia Investments, Anchor Partners, and Sage Investment Trust, along with company promoters, will be selling shares through the OFS route. As this is an OFS, the company will not receive any proceeds from the IPO; all funds will go to the selling shareholders.
Corona Remedies is expected to debut on the stock market on December 15. The company’s product portfolio features 67 brands across various therapeutic areas, as recorded in December 2024.
According to a Crisil Intelligence Report, Corona Remedies ranks as the second fastest-growing firm among the top 30 companies in the Indian pharmaceutical market, based on domestic sales performance from the Moving Annual Total (MAT) of June 2022 to June 2025. During this period, the company’s domestic sales are projected to grow at a Compound Annual Growth Rate (CAGR) of 16.77 percent, in contrast to the Indian Pharmaceutical Market (IPM), which is expected to grow at a CAGR of 9.21 percent.
The allocation for the IPO will consist of 50 percent reserved for qualified institutional buyers, 35 percent for retail investors, and the remaining 10 percent for non-institutional investors. The book-running lead managers for the issue are JM Financial, IIFL Capital Services, and Kotak Mahindra Capital Company.
Published on December 3, 2025.
